Federated Names Chairman of Federated Direct; Jeffrey Sherman to Take the Helm of Catalog and E-commerce Operations.Business Editors CINCINNATI--(BUSINESS WIRE)--March 23, 2000 Federated Connected and treated as one. See federated database and federated directories. Department Stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , Inc. announced today the appointment of Jeffrey Sherman, president of Bloomingdale's, to the new position of chairman and chief executive officer of Federated Direct, the company's direct-to-customer catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. and e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. division, effective immediately. Federated Direct will be headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and be directly responsible for the operations of Bloomingdale's By Mail, bloomingdales.com, Macy's By Mail, macys.com and the Fingerhut Companies, a wholly owned Federated subsidiary. In his new capacity as chairman of Federated Direct, Sherman, 51, will report to Federated Vice Chairman Ronald W. Tysoe. At the same time, William J. Lansing, chairman of Fingerhut, will be leaving Federated to pursue other interests. He became Fingerhut chairman in May 1999, after having joined that company as president a year earlier, prior to Fingerhut's March 1999 acquisition by Federated. Tysoe noted that today's Federated Direct announcement marks the first time all of Federated's catalog and e-commerce operations have been aggregated in one division. Previously, Bloomingdale's By Mail and bloomingdales.com reported to the management of Bloomingdale's department stores, while Macy's By Mail, macys.com and Fingerhut were under the Federated Direct umbrella. "Our intent from the outset was eventually to bring all of our direct-to-customer businesses under one division with a chairman who is responsible for all aspects of these catalog and e-commerce operations," Tysoe said. "We are fortunate to have Jeff Sherman step into this important role. He is a strong, capable and experienced retail executive who brings with him a broad knowledge of retail, as well as a thorough familiarity with direct-to-customer catalog and e-commerce businesses, which he has overseen at Bloomingdale's for a number of years." Federated said that a successor to Sherman as Bloomingdale's president will be named in the near future. Under the new structure, no successor to Lansing will be named and the following Fingerhut executives will report directly to Sherman at Federated Direct: -- John Buck John Buck may refer to:
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Fingerhut Companies and president of Fingerhut Business Services, Inc.; -- Andrew Johnson, executive vice president of Fingerhut and president of Fingerhut's e-commerce division; -- Michael P. Sherman, executive vice president/business development and general counsel of Fingerhut; and -- Richard Tate, president of the Fingerhut catalog division. "Over the last two years, Fingerhut has become a premier e-commerce, catalog and direct-to-customer fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. business, and I'm sure that Federated will continue to pursue that strategic direction," Lansing said. "Going forward, Federated will leverage the powerful competitive advantage afforded by being in bricks-and-clicks. While I intend to move on to new challenges, Federated and I are parting amicably am·i·ca·ble adj. Characterized by or exhibiting friendliness or goodwill; friendly. [Middle English, from Late Latin am and I have every confidence that the Fingerhut organization will continue to thrive under the strong leadership of Jeff Sherman and the Fingerhut executive team." Sherman was named president of Bloomingdale's in 1989 after having spent the prior 18 years in various senior-level merchandising merchandising Element of marketing concerned especially with the sale of goods and services to customers. One aspect of merchandising is advertising, which aims to capture the interest of the segment of the population most likely to buy the product. , stores and operational/finance positions with the company. Among the positions held by Sherman since joining Bloomingdale's as an executive trainee in 1971 were controller, merchandise vice president for men's and women's designer apparel, regional vice president for the Washington, D.C.-area stores and for Florida and Texas store development, and general manager of Bloomingdale's 59th Street store. He was named executive vice president and chief financial officer of Bloomingdale's in 1985. A native of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Sherman is a graduate of City College in New York and holds a master's in business administration from New York University New York University, mainly in New York City; coeducational; chartered 1831, opened 1832 as the Univ. of the City of New York, renamed 1896. It comprises 13 schools and colleges, maintaining 4 main centers (including the Medical Center) in the city, as well as the . He and his wife, Karin, have four children. Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers, with annual sales of more than $17.7 billion. Federated currently operates more than 400 department stores in 33 states under the names of Bloomingdale's, The Bon Marche, Burdines, Goldsmith's, Lazarus, Macy's, Rich's and Stern's. Federated also operates the Fingerhut, Bloomingdale's By Mail, bloomingdales.com, Macy's By Mail and macys.com direct-to-consumer catalog and electronic commerce subsidiaries. (NOTE: Information on Federated and its operating divisions is available on the Internet at http://www.federated-fds.com. Copies of past press releases and corporate background data also are available by calling Fax-On-Demand at 1-800-853-9150.) |
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